Other things held constant, higher saving rates lead to
A) increases in the number of hours workers work. B) decreases in real per capita GDP.
C) a lower standard of living. D) higher living standards.
D
Economics
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Which one of the following factors reduces the likelihood that a cartel agreement will lead to higher producer profit?
a. significant barriers to entry into the cartelized market b. the development of substitutes for the good produced by the cartel c. government restrictions that limit competition from new rivals d. a small number of sellers involved in the cartel agreement
Economics
Suppose the production function is given by Q = 2K + 5L. What is the marginal product of labor when 15 units of capital and 10 units of labor are employed?
A. 2 B. 50 C. 5 D. 25
Economics